A financial expert predicted an increase in the key rate of the Central Bank of Russia in December

The Board of Directors of the Central Bank (CBR) of the Russian Federation may raise the key rate at its meeting on December 20, financial expert Oksana Pokrovskaya believes. She told Izvestia on December 9.

"So far there are no options to reduce the rate, but there is every reason to believe that at the next meeting on December 20 it will be raised to 22-25%. And for the beginning of 2025 there are no events that could affect the reduction of the key rate," she said.

In her opinion, most likely, a cautious revision of the rate level will begin in the second half of the year. This is possible after housing and utilities tariffs will be indexed and inflationary prospects will be seen more clearly.

"So far, the Central Bank's policy is literally aimed at cooling consumption. Save, not spend - this is what the regulator is leading us to," Pokrovskaya emphasized.

Raising the key rate: why it is necessary and what it affects

The monetary tightening cycle is forecast to continue

Earlier, on October 25, the Central Bank of the Russian Federation raised the key rate to 21%. At the same time, the regulator allowed a further increase in the rate, and also noted that inflation is significantly higher than the July forecast. At the same time, the Central Bank added that the Russian economy continues to grow, but at a more moderate pace than in the first half of 2024. At the same time, monetary conditions continue to tighten.